Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,640 shares of the financial services provider's stock after selling 3,192 shares during the quarter. Freedom Investment Management Inc.'s holdings in Iron Mountain were worth $488,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IRM. Wealthfront Advisers LLC lifted its stake in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the period. Norges Bank purchased a new stake in shares of Iron Mountain during the 4th quarter worth approximately $348,249,000. TD Asset Management Inc. grew its holdings in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after acquiring an additional 1,086,308 shares during the period. Raymond James Financial Inc. purchased a new position in Iron Mountain in the 4th quarter valued at approximately $55,271,000. Finally, Invesco Ltd. raised its stake in shares of Iron Mountain by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after buying an additional 363,783 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IRM shares. Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target for the company. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $121.29.

Iron Mountain Trading Up 3.1 %

IRM traded up $2.65 during midday trading on Friday, hitting $87.97. The company's stock had a trading volume of 2,097,977 shares, compared to its average volume of 1,832,448. The firm has a market cap of $25.95 billion, a P/E ratio of 144.21, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a 50-day moving average price of $86.08 and a two-hundred day moving average price of $103.27.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $0.52 EPS. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is 514.75%.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.